Ownership reform in China's township and village enterprises

Anticipatory Ownership Reform Driven by Competition: China's Township- Village and Private Enterprises in the 1990s

SOURCES OF ECONOMIC EFFICIENCY FOR CHINA'S TOWNSHIP AND VILLAGE ENTERPRISES

CENTRE FOR ECONOMIC PERFORMANCE DISCUSSION PAPER NO.155 June 1993 CHINESE TOWNSHIP VILLAGE ENTERPRISES AS VAGUELY DEFINED COOPERATIVES

This paper concerns the paradoxes and dilemmas that the very successful "Chinese model" presents for transition theory. The "Chinese model" is centered on the development of township-village enterprises. The main purpose of this paper is to make the case that TVE's are not just some form of disguised capitalist institution; they are much better described as "vaguely defined cooperatives" meanin...

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Rent Seeking and Government Ownership of Firms: An Application to China’s Township-Village Enterprises

Using its control of regulated inputs, a government agency extracts rents from a manager who undertakes an investment. Such government rent-seeking activity leads to a typical hold-up problem. Government ownership serves as a second-best commitment mechanism, through which the government agency will restrain itself from the rent-seeking activity and may even offer the manager assistance in the ...

Stability in Instability. China's TVEs and the Evolution of Property Rights

For two decades economic and social stability in China's rural areas has been based on the successful evolution of township village enterprises. These enterprises, however, feature property rights structures which according to conventional property rights theory should make these enterprises highly inefficient and prone to quick dissolution. But as closer analysis indicates, exactly these ambig...